THE DEREGULATION OF FOREIGN EXCHANGE MARKET AND ITS IMPACT ON THE GROWTH OF THE NIGERIAN ECONOMY
Keywords:
Equilibrium, Exchange rate, Currency, Over valued, Export, Import, Gold, Interest rate and InflationAbstract
This research work empirically examined the deregulation of foreign exchange market and its impact on the growth of the Nigerian economy. It made use of secondary data which were sourced from different sources. It appraised the objectives of the deregulation of foreign exchange market and the growth of the Nigerian economy. The Ordinary Least Square Method (OLS) was employed in this paper.
The result of this research paper revealed that the deregulation of the foreign exchange market has a direct impact on the growth of the Nigerian economy. Exchange rate management adopted by Nigeria has been effective in solving the problem of inflation in Nigeria. Government should put machinery in place through the Central Bank to monitor the valuation of money to curb the trend of inflation in Nigeria.
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